Bu- conversion motorhome and specialty aluminum-trailer and transporter manufacturer Featherlite Inc. reported a 67% increase in second-quarter earnings.
“Our luxury coach sales offices are reporting increased customer traffic and excitement over the 2005 Featherlite coaches, especially the Triple Crown- and Super Slide-model Vantares,” said Conrad Clement, president and CEO. “We have lowered our used coach inventory significantly, which will lower interest costs and should increase (profit) margins.”
Clement added that he believes Featherlite is gaining market share in bus conversions “and the trailer markets we serve.”
The Cresco, Iowa-based firm earned $1.5 million during the three months ended June 30, compared with $898,000 earned a year earlier. Its sales revenue during the April-through-June period increased 23% to $58.2 million.
During the first half of this year, Featherlite earned $2.7 million, compared with $222,000 earned during the first half of 2003. The company’s sales increased 29% during the first half of this year to $114.6 million, compared with $89.1 million a year earlier.